Portland Grain Review 07/17

July 17, 2018 Portland Price Trends 07-01-17 08-01-17 06-01-18 07-10-18 07-17-18 #1 SWW (bu) 5.55 5.20 6.05 5.95 5.95 White Club 5.65 5.30 6.05 5.95 5.95 DNS 14% 9.31 8.38 7.49 6.63 6.38 HRW 11.5% 6.34 5.65 6.71 6.25 6.14 #2 Corn (ton) 157.00 148.00 178.00 157.00 156.00 #2 Barley 127.00 125.00 155.00 150.00 150.00 Wheat...White wheat remains the stalwart of the west coast wheat markets, with firm basis levels holding bids within a dime of the $6 mark. Continued demand with a CCC donation working this week is supporting the market. Crop Progress...USDA crop ratings continue to reflect the potential for one of the better spring wheat crops of the past thirty years, with overall crop conditions at 108% of average. Modest declines were noted in the good to excellent rating for Idaho, Minnesota and Montana, North Dakota remained steady at 83% with South Dakota and Washington each gaining a point. Scores for Minnesota show that crop at a record high 118% of average. Winter wheat harvest is progressing at an average pace across the Pacific Northwest. Shipments...Weekly export inspections showed a solid rebound in exports of U.S. wheat last week, coming in at 17.2 mb compared to 9.8 mb the prior week. Total shipments now stand 43% behind a year ago at 81 mb. Hard red winter was the top shipper with 6.1 mb, followed by hard red spring with 5 mb and soft white at 3.2 mb. Top destination off the west coast ports was the Philippines, which registered 4.5 mb, followed by Japan with 4.3 mb. -Norm Ruhoff Contributing Analyst Copyright 2018 DTN/Telvent. All Rights Reserved.